Kentucky Retirement Systems Has $7.96 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Kentucky Retirement Systems trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,569 shares of the semiconductor company's stock after selling 2,801 shares during the period. Kentucky Retirement Systems' holdings in Analog Devices were worth $7,957,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the second quarter valued at about $29,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC increased its position in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 45 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI traded down $5.89 during trading hours on Friday, hitting $206.35. 3,880,962 shares of the company traded hands, compared to its average volume of 3,218,283. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $178.66 and a twelve month high of $244.14. The firm has a 50-day moving average of $225.88 and a 200 day moving average of $224.95. The stock has a market capitalization of $102.45 billion, a price-to-earnings ratio of 61.97, a P/E/G ratio of 2.98 and a beta of 1.08.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. Analog Devices's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 EPS. On average, analysts forecast that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's dividend payout ratio is currently 110.51%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $228.69, for a total transaction of $2,286,900.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at approximately $11,672,108.91. The trade was a 16.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 500 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,495 shares of company stock valued at $25,229,958 over the last three months. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America reduced their price target on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Finally, Truist Financial lowered shares of Analog Devices from a "buy" rating to a "hold" rating and lowered their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.